31st January 2017 – By: Fraser Hawkins
This year’s business forecasts in PNG are looking more modest than previous years, but there’s no doubting better things are on the horizon for Port Moresby in 2017. The city’s skyline is set to change over the next eighteen months with the addition of new commercial, residential, hotel and retail buildings planned across the region.
With a range of projects in various stages of development, it’s a race against time to complete them before the APEC 2018 Summit. Even with project management, design and investment expertise from around the globe, the clock is ticking on the completion of Port Moresby’s newest buildings. Here’s Peopleconnexion Recruitment’s visual guide to the city’s latest projects.
It seems fitting to start with talking about Star Mountain Plaza. Set to provide hotel, office and residential spaces ahead of the APEC 2018 Summit, Star Mountain Plaza is PNG’s first integrated commercial development. The K1.5b project is due for completion in August next year, under the project management of Stratum. Check out the first 30 seconds of this video to get a sense of just how huge this project is.
Stage Two of the redevelopment of Old Parliament House in the city’s centre is officially underway. This stage will feature twin residential towers and penthouse apartments leased to corporate clients, paired with retail space. Official construction works began early last year and are set to be completed in late 2018.
The commercial and residential estates in to be located in Waigiani’s City Centre are currently being developed by Lamana under their subsidiary Rangeview Heights Limited, of which Managing Director Sir Kostas Constantinou holds a directorship. The development includes residential townhouses, an attached shopping mall within the community, secure parking, a park and green areas for residents’ use.
Paga Hill is set to be the city’s first multi-use development including luxury hotels, over 800 residential apartments, commercial and retail spaces, a marina and cultural centre. The project has been in proposal, planning and design development stages for years, but is finally ready to begin enter its investment and implementation stages after receiving the green light from the Government earlier this year. Estimates currently put the construction of attached Paga Hill City at around K3 billion.
5. APEC Haus
The next iconic PNG landmark is expected to start construction early this year. To complete this K120 million project, Ela Beach will be extended out by 100 metres to support the structure, which will be built over the water. From the air, the building’s shape will resemble a traditional Moutan lakatoi sail.
“When you see it from the air, or when you see it from the land or when you see it from a post card or on TV, or on the internet or Facebook, you will symbolise and recognise it as Port Moresby, Papua New Guinea,” – Justin Tkatchenko, Minister for Sports and APEC
The construction of the building will be part of a larger Ela Beach redevelopment project involving a four lane highway to join the Paga Ring Road.
Loloata Island Resort is still very much a work in progress. After being sold late last year, the former dive resort is set to be redeveloped into a luxury hotel with suites and private villas. Though technically not located in Port Moresby, this project’s massive undertaking makes it a development worth mentioning.